The Vancouver Island Real Estate Board (VIREB) has released the Sales Statistics for August 2007. Their press release indicates a large increase over August 2006 for the entire Board. Each of the 6 zones has shown a marked increase over the previous year ranging from 8%-21%.
NANAIMO, BC - Multiple Listing Service® (MLS®) sales summary data released by the Vancouver Island Real Estate Board (VIREB) for August 2007 shows increases continuing in sales volume and average sale prices.
The average sale price across the VIREB region for August 2007 was $340,380. This is a 17 per cent increase from the $290,173 posted at the end of August 2006. Unit volume increased almost 20 per cent from the end of August 2006.
Source: VIREB Press Release Excerpt
As you can see from the following table, the Qualicum Beach and Parksville area has shown the largest per cent change (21%) over last year and is higher than the Board average (17%). While the average sale price for our area was down slightly from June to July, it has re-bounded significantly in August to over $405,000.
| UNIT SALES | AVERAGE SALE PRICE | % Change | *MEDIAN PRICE | |||||
| ZONE | Aug 2007 | Jul 2007 | Aug 2006 | Aug 2007 | Jul 2007 | Aug 2006 | Aug 2007 | |
| Campbell River | 66 | 74 | 51 | 304,191 | 325,642 | 257,562 | 18% | 289,800 |
| Comox Valley | 118 | 102 | 79 | 332,456 | 329,693 | 274,932 | 20% | 312,000 |
| Cowichan Valley | 84 | 109 | 94 | 362,567 | 356,142 | 303,378 | 19% | 360,000 |
| Nanaimo | 152 | 185 | 107 | 346,037 | 351,662 | 319,389 | 8% | 335,000 |
| Parksville/Qualicum | 78 | 72 | 71 | 405,163 | 364,390 | 334,688 | 21% | 370,000 |
| Port Alberni/West Coast | 51 | 50 | 37 | 236,495 | 218,251 | 207,366 | 14% | 226,000 |
| **BOARD TOTALS | 572 | 619 | 478 | 340,380 | 332,657 | 290,173 | 17% | -- |
| Source: Multiple Listing Service® (MLS®) sales data from the Vancouver Island Real Estate Board. *Median Price: An actual sale at or immediately adjacent to the midpoint in a price group. In the case of an even number of sales, the median is the highest price in the lower half of that price group. If the total number of sales is an odd amount, the midpoint sale is taken to be the median (i.e. 9 sales, sale no. 5 represents the median). **Please note: The Board Totals figures also include: Zone 7-North Island, Zone 9-Out of Board Properties, and Zone 10-Islands figures which are not listed separately in this table. | ||||||||
If you have any questions or would like more information on our area, please do not hesitate to contact me directly.
Jeff Shields
RE/MAX Anchor Realty
1-800-668-3622
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